Coresight: 20-25K Store Closures in 2020 Due to COVID-19

Jun 10th, 2020

Jessie Kern

Coresight predicts massive store closures as a result of the COVID-19 pandemic and its impact on the economy.

Coresight predicts massive store closures as a result of the COVID-19 pandemic and its impact on the economy.

Coresight has issued an update to its US Store Closures 2020 Outlook noting that, based on the more recent implications of the COVID-19 pandemic, between 20,000 and 25,000 store closures could occur in 2020. This is a significant increase from the previously estimated total of 15,000. More than 4,000 closures have already been tabulated. Looking ahead, as many as 60% of closures could take place in malls.

Related: JCPenney Preps for 154 Store Closures and Chapter 11 Bankruptcy

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